ProFrac (NASDAQ:ACDC) Shares Gap Down – Should You Sell?

ProFrac Holding Corp. (NASDAQ:ACDC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.22, but opened at $5.73. ProFrac shares last traded at $5.9220, with a volume of 706,818 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACDC. Weiss Ratings reissued a “sell (d-)” rating on shares of ProFrac in a research report on Friday, March 27th. Wall Street Zen raised shares of ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley boosted their price target on shares of ProFrac from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Tuesday, March 24th. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 21st. Finally, UBS Group restated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.63.

ProFrac Trading Down 3.1%

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.56. The business’s 50 day moving average price is $5.72 and its 200-day moving average price is $4.69. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.74 and a beta of 1.44.

ProFrac (NASDAQ:ACDC) last issued its quarterly earnings results on Friday, March 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). ProFrac had a negative return on equity of 33.18% and a negative net margin of 18.97%.The firm had revenue of $436.50 million for the quarter, compared to analyst estimates of $402.95 million. Equities analysts forecast that ProFrac Holding Corp. will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new position in shares of ProFrac during the fourth quarter worth about $60,000. Alpine Global Management LLC purchased a new stake in ProFrac during the fourth quarter worth about $88,000. Invesco Ltd. boosted its holdings in ProFrac by 28.4% during the fourth quarter. Invesco Ltd. now owns 240,655 shares of the company’s stock worth $936,000 after buying an additional 53,210 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in ProFrac by 89.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,898 shares of the company’s stock worth $109,000 after buying an additional 13,187 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in ProFrac by 9.6% during the fourth quarter. Empowered Funds LLC now owns 776,893 shares of the company’s stock worth $3,022,000 after buying an additional 67,939 shares in the last quarter. 12.75% of the stock is currently owned by institutional investors and hedge funds.

About ProFrac

ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.